Within his newly released memoir, titled Ithaki, the former leader Alexis Tsipras spares no criticism while he examines that turbulent era during Greece's economic turmoil.
A Controversial Choice
As per Tsipras's version, Tsipras appointed that maverick academic Yanis Varoufakis as the finance minister primarily due to his worldwide fame and his very persuasive skills when it came to speaker.
“He was, actually, more of a celebrity rather than an economic expert,” stated the 51-year-old.
Conflicting Agendas
Tsipras suggests that Varoufakis had a personal motives which included advancing Varoufakis's books and experimenting with his economic models on the nation rather than genuinely advocating its economic stability.
He wrote how the discussions to avoid insolvency were “not only a way to secure improved terms for the country. They were an experiment, a monumental opportunity to prove the validity of his ideas.”
High-Stakes Talks
During rollercoaster negotiations, the country found itself perilously close to leaving the single currency area.
At stake lay both the country's destiny but also those punishing cutbacks required in exchange for rescue loans by foreign lenders.
Unsuccessful Options
Efforts to secure financing elsewhere, such as a desperate plea to the Kremlin to purchase Greek bonds, went unanswered.
Assisting the indebted country was equivalent to tossing cash in the trash-can, Putin is reputed to have told Tsipras in Moscow.
Public Vote and U-Turn
That summer, the punitive bailout terms were subjected to a public vote, a move that plunged Europe into further crisis of identity.
Although the vote was won decisively by those who opposed austerity, the prime minister had little option but to ignore the result and negotiate a rescue deal from foreign lenders which turned out to be even harsher.
Final Straw
The ex-PM revealed that he started questioning Varoufakis relatively soon.
“He was the public image of negotiation, the figure who drew media attention, who graced the front pages of magazines globally … it seemed he was enjoying his new role.”
After the minister proposed a contingency plan that included establishing a secondary currency as well as distributing vouchers to retirees, Tsipras knew it was game over questioning him: “Are you serious?”
Lasting Criticism
In the book, Tsipras asserts how Varoufakis had proved himself “unfit for an agreement demanding intricate and sensitive management.”
Tsipras also claimed how Varoufakis's aggressive approach left him more and more alone with colleagues, put Greece at risk, and helped hardliners that were advocating a Greek exit from the euro.
This retelling of events has provoked anger and shock in some quarters, while Varoufakis has so far maintained a deafening silence on the matter.
